EXIM Bank (USA) Is Back In Business

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EXIM Bank Is Back In Business.

The following is excerpted from a press release issued by the Export-Import Bank Of The United States (“EXIM”). This is indeed excellent news for private-sector businesses which currently export or which are desirous of exporting through programs such as Global Edge International Consulting Associates, Inc.'s Virtual Export Division Program. The reauthorization of EXIM is indeed a victory for small businesses and for the U.S. economy-at-large. Kindly forgive the lack of proper formatting in the EXIM release -- it is posted here just as it was sent to my inbox, with only a few corrections:

Media Contact: Lawton King (202-565-3200)
For Immediate Release: Friday, December 4, 2015

EXIM Bank Reauthorization Letter to Customers and Stakeholders

Washington, D.C. – Below is the letter Fred Hochberg, the chairman and president of the Export-Import Bank of the U.S. (EXIM Bank), sent to EXIM Bank customers and stakeholders today to announce the Bank’s reauthorization.

December 4, 2015

To Customers and Stakeholders of the Export-Import Bank of the United States:

I’m pleased to report that after overwhelmingly bipartisan votes in both the Senate and the House of Representatives, President Obama signed EXIM Bank’s reauthorization into law today.
Beginning today, EXIM will be able to restart the work needed to meet its mission of supporting American jobs and equipping American businesses with the tools necessary to compete for global sales. Importantly, the Bank secured a long-term reauthorization that will be in effect until September 30, 2019.

Exporters and their supply chains are critical to the country’s economic health. Export focused businesses bring a host of benefits to their communities and local economies, including generally paying higher wages to their employees than non-export businesses.

All of us at EXIM are ready to receive applications for new transactions. Given the expected volume, the efforts required to get our processes back up and running, and the need to apply our comprehensive due diligence requirements to every transaction, we are asking customers and other EXIM stakeholders to be patient while we resume authorized activities. We expect online application systems and exim.gov to be fully operational no later than Tuesday, December 8, and customers can always reach us at 1-800-565-EXIM.

In addition, while we are accepting and processing applications for all levels of financing, please keep in mind that all transactions totaling more than $10 million dollars require approval by EXIM’s Board of Directors. Those transactions will need to await Senate confirmation of members sufficient to reconstitute a quorum.

The EXIM team is as dedicated as ever to America’s exporters, empowering them to tackle new markets, and providing a level playing field in a fiercely competitive global economy. We look forward to serving you, taxpayers and the American people for years to come.

Best,
Fred P. Hochberg
Chairman and President of the Export-Import Bank of the United States

ABOUT EXIM BANK:

EXIM Bank is an independent federal agency that supports and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees and export credit insurance, to promote the sale of U.S. goods and services abroad. Almost ninety percent of its transactions directly serve American small businesses.

In fiscal year 2015, EXIM Bank approved $12.5 billion in total authorizations. These authorizations supported an estimated $17.7 billion in U.S. export sales, as well as approximately 109,000 American jobs in communities across the country.

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To find out more about how your company can tap into the ever-expanding global economy, please visit our website at http://GlobalEdgeInternational.com . Our blog, with its featured articles, can be viewed at http://GlobalEdgeInternational.blogspot.com .

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THE INTERNATIONALIST PAGE - Douglas E Castle

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A discussion of international business, events, markets, joint ventures, currencies, outsourcing, offshoring and financing, importing and exporting, as well as global sources of goods, services, labor, capital, trade guarantees, credit insurance and emerging markets.

Key Terms: international, global, business, trends, prediction, foreign exchange, outsourcing, supply chain, offshoring, import and export, emerging markets, the world economy, trade balance, trade finance, foreign direct investment, joint ventures, sovereignty, cultural sensitivity, diversity, emerging markets, INCOTERMS, tariffs, International Business Companies, asset protection trusts

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Export Financing For US Companies - Working Strategically With EX-IM Bank

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Working with EXIM Bank is difficult -- but it has a wealth of resources for business capitalization if you understand the written (and unspoken) rules of the application game.

Following are a series of hyperlinks to specific areas of interest in financial assistance and programs for U.S. exporters, multinationals, small businesses, and international project developers and promoters. These hyperlinks have been extracted from The Chairman's Report [Export-Import Bank Of The United States, Volume 9, July 2012].

This information is best utilized by clicking on a particular link, reading what you need, and then returning to this site. Then repeat the process for each of the other links of interest to you. When you have finished, I would greatly appreciate if you would read my addendum at the end of this article post regarding small to medium-sized business (SME) capitalization.

Portions of this article have been incorporated in my posts on the following blogs in the Global Edge Media Blog Constellation, all of which are always recommended reading:

The Internationalist Page Blog

The Capital For Business Growth Blog

The International Trade, Financing And Investment Blog


EX-IM BULLETIN LINKS

Message from the Chairman

Third Quarter Highlights

Ex-Im Recognized as Best ECA in the Americas

American Businesses Can Successfully Compete

On the Road to Helping Small Business

Third Quarter Media Highlights

Business Development Teams Seek New Opportunities

Upcoming Travel

Transaction Highlights

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Commentary:

It is important to think about your entity's eligibility for EXIM financing. If fact, you may consider engineering the structure of your business (as a proposed EXIM client) to one or more of the attributes as set forth below in order to increase the probability of obtaining a favorable response:

1) The applicant should be a small to medium-sized enterprise domiciled in the US;

2) The enterprise should be controlled by US management and shareholders;

3) The enterprise should have a pipeline of transactions (perhaps confirmed irrevocable purchase orders from prospective B2B overseas entities) or a defined contractual project;

4) Minority Business Enterprises (MBEs), Women's Business Enterprises (WBE), and Disadvantaged Business Enterprises (DBEs) tend, informally to receive a preference from EXIM, as well as from the SBA and elsewhere;

5) Have optimistic but attainable projections of income coming into the United States as a result of the business increment financed with EXIM's assistance, as well as any good news about domestic jobs creation. Interestingly, if you are outsourcing part of your supply chain and labor to another country, if you can legally say that the end product is "assembled in the US" you may be fortunate enough to get both the inherent price arbitrage advantage associated with outsourcing, as well as export financing.

Sidebar: If your business is owned by, or will be employing returning US veterans, make it abundantly clear in your presentation. Mentioning the Wounded Warrior Project and other such humanitarian and charitable initiatives helps spin your application in an even more politically advantageous direction.

Lastly, in dealing with EXIM, you must be continuously peristent. It helps if some of your vendors or suppliers are large US firms who have already achieved some traction and lobbying input into the US government. They can help your application get special priority in its consideration, and bolster your small to medium-sized enterprise's credibility

Douglas E. Castle

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The Business Engine: Private Sector Is The Solution To Public Sector Shortcomings

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Once again, the power of the small to medium-sized business is cited as the only reliable economic engine to pull the United States and the global economy out of a growing recession. And once again it is affirmed, albeit indirectly, that private sector industry, and not government policies (bailouts, subsidies, trade restrictions, complex regulations, special loopholes, and the like) holds the key to a balanced, survivable international economic future.

Simply put: How can we expect government, at any level, to create production or to assist in the generation of any type of budget-balancing or stabilization which requires genuine profitability? Ultimately governments are the antithesis of profitable enterprises -- they collect money, take a vast commission for themselves and spend it as they see "best" -- these politicos have never had to generate a profit in their entire careers. If they require something, they either raise taxes, raid special funds (rather like a chronic gambler who embezzles to cover his losses until his luck changes), or print currency.

The expense of government, aside from its lack of a profit/ survival requirement, is actually an increasing drain on some very overstressed economies. Creating more government jobs is certainly not the pathway to profit; it is merely interest added onto the nations exploding indebtedness, and placing an increasing percentage of the population into the not-for-profit sector. Business understands how to make a profit. Government plainly doesn't. 

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For Immediate Release: Monday, June 25, 2012

Media Contact: Jamie Radice (Ex-Im Bank): 202-565-3200

 

Ex-Im Bank Chairman Says American Businesses Can Successfully Compete Against Foreign Companies, Not Countries

Releases 2012 Competitiveness Report, unveils study showing unregulated government financing exceeds all official export financing of the G-7 ECAs combined.

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Washington, D.C. – The chairman of the Export-Import Bank of the United States (Ex-Im Bank), Fred P. Hochberg, said today that American companies’ ability to win foreign sales is being challenged by a dramatic rise in official export credit financing. He made the remarks at the Center for American Progress.

Hochberg also outlined how the United States can become the world’s leading exporter again and how American businesses can compete globally amidst the rise of state-driven capital.

Following his speech, Hochberg released Ex-Im Bank’s 2012 Competitiveness Report. The Bank has produced these reports for Congress annually since 1972, and this year’s report examines the challenging trends in export finance driven by both OECD and non-OECD economies.

Excerpts from Hochberg’s speech, “A Wake-Up Call on American Competitiveness”

o   “For the foreseeable future, our economic competitors will strongly support their companies, and industries that serve their national strategic interests. They will continue creating their own national champions. And how America responds to this will determine if we can create the millions of middle class jobs our nation needs today and in the years ahead.”

o   “There are over 60 export credit agencies around the world, and each and every one is working to expand their footprint and increase their activity. This is the world we live in. And we've got to compete in the world as it is, not as we'd like it to be.”

o   “American companies have what it takes to win in the global economy. They can go head-to-head with any company in the world. But they can’t go head-to-head with the government of another country. President Obama is right. We need a government that will fight for our economic interests around the world, to create more American jobs at home. There is no time to wait. It’s time to get to work.”

Key findings from Ex-Im Bank’s 2012 Competitiveness Report

o   Against the backdrop of the European sovereign debt crisis and tight liquidity constraints, Ex-Im Bank has proven itself ready and able to step in with its long-term, fixed rate support for U.S. exports when the private sector had withdrawn from export finance.

o   However, as the recovery continues and liquidity gradually returns to commercial markets, different competitive challenges are emerging.

o   Most notably, significant volumes of unregulated OECD export credit programs (that fall outside the purview of the Organization for Economic Co-operation and Development “OECD” rules) and non-OECD export programs, such as those offered by Brazil, India, and, most prominently, China, are being deployed strategically around the globe, in favor of foreign exporters and national champions.

In fact, a conservative estimate shows that, collectively, these forms of government financing exceed all official export finance activity of the G-7 ECAs combined.

o   Ex-Im Bank estimates that in 2011 there was roughly $100 billion in unregulated OECD export financing and an additional $60 billion from Brazil, India, and China.

About Ex-Im Bank:

Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years, Ex-Im Bank has earned for U.S. taxpayers $1.9 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

Ex-Im Bank approved $32.7 billion in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than $6 billion directly supporting small-business export sales -- also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $41 billion in U.S. export sales and approximately 290,000 American jobs in communities across the country. For more information, visit www.exim.gov.

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Middle management jobs are being automated. Traditional upward-bound career paths are no longer an applicable model. Monies are allocated to the least efficient, most irresponsible and avaricious  "bailout failures" at the expense of the decreasing membership of the middle class, and the slightly increasing ranks of the working poor.

The UN has an ethical mandate and a fiduciary responsibility to foster small to medium-sized business growth through all of its agencies, alliances and institutions. An economy exists because of the needs of consumers -- if we ignore or trample them, there will no longer be anyone left with a single penny to buy anything with, and the basic nutritional, health and utilities functions will belong to an infinitely powerful class of neoplastic parasites who will keep robbing the people until a decent stand of living becomes unaffordable in a return to the vast poverty patches of the Dark Ages.

Small business and entrepreneurship are the engines which must be stoked in order to do what governments cannot do for themselves or for their respective citizen populations. Subsidizing non-productivity with the hard-earned funds of the productive masses is, for a time, unmitigated thievery -- after that civilization crumbles.

Everyone should support small to medium-sized businesses and the entrepreneurs who give birth to them. They are our deliverance from the ongoing and growing mismanagement of the public sector. Sadly, you will mostly find politicians there -- and they only know how to take and redistribute wealth that they cannot help to create.

Douglas E. Castle for The Internationalist Page Blog

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Export Import Bank (EXIM) Update - Reading Between The Lines

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I've taken several weeks to analyze the implications of EXIM's Chairman's Quarterly Newsletter, cited below. On the surface, it "feels" positive -- at least in terms of its artful, bulletized roster of achievements.

But let's not forget that that EX-IM exists largely for the purpose of assisting smaller, entrepreneurial enterprises in getting trade financing, credit enhancements, guaranties, and project financing to make it easier for them to enter the global marketplace. This should, in theory, create export, joint venture and project development opportunities for US businesses throughout the world, for the benefit of the US small business sector, the other nations interacting with these businesses, and the US economy-at-large in terms of the balance of trade, the balance of payments and employment. Noble objectives all.

Yet, very large companies, like Caterpillar are the recipients of the greatest percentage, by far of EX-IM funds and credit enhancements. It would seem to be as if EX-IM simply helps big winners continue to win. In other cases, many of the loans and guaranties issued to "small businesses," are actually issued to separately incorporated subsidiaries or affiliates of much larger businesses - like Halliburton Corp, or even ENRON Corp. (in days past) for example. It is not an easy process for a small business to navigate its way through the mountain of compliance and reporting paperwork required by EX-IM. It is only natural then, for large companies to use their resources and expertise to use certain small businesses (particularly those with some minority or special status) as proxies for them to obtain this inexpensive financing.

Too many "small businesses" truly qualify as such only superficially, with most of the recipients of funding and benefits being extensions of much larger businesses with greater resources and lobbying power. While this does benefit the Balance of Trade and Balance of Payments for the United States, it hardly promotes new jobs creation in the US. Sadly, too much of the largesse of the EX-IM Bank does not actually 'trickle down' to the independent US small businesses which would generate the greatest returns in terms of employment and taxable profits... nor does this benefit the smaller businesses internationally which might gain a market advantage or edge by either importing a US product, or by partnering with a peer-sized US company.

Truly independent US-based small businesses need an easier, less-complicated route to EX-IM's resources and programs; at the same time, I believe that EX-IM might do more to qualify those smaller businesses which are not not looking for less-expensive financing -- but those that would, of necessity, use a limited infusion of capital most prudently and efficiently.


The Quarterly Newsletter follows:

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The following information is from the Export-Import Bank of the United States (Ex-Im Bank). It is being sent to subscribers to the Bank's email list for those interested in learning about Ex-Im Bank's activities.

 Export-Import Bank of the United States

Office of Communications

CHAIRMAN'S QUARTERLY NEWSLETTER
October 18, 2011
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Ex-Im Reports Record-Breaking Year

Ex-Im Approves Over $32 billion in financing for FY2011; $6.0 billion in financing to small business

For fiscal year 2011, Ex-Im Bank approved over $32 billion in financing, an all-time record for the Bank and up 110% from 2008. These financings supported approximately 300,000 U.S. jobs and included more than 3,000 small business transactions - up nearly 20%. Fiscal year 2011 marks the third consecutive record-breaking year, with significant growth seen in industries such as aircraft, renewable energy, and infrastructure as well as key markets including Colombia, India, Turkey, and Sub-Saharan Africa.
Ex-Im Bank is steadfast in achieving the goals of the President's National Export Initiative (NEI) in doubling exports by 2015. In addition, significant progress was made in accomplishing Ex-Im Bank's goals to add 5,000 new small businesses to the Ex-Im Bank portfolio, double the small business volume to $9 billion, and approve $30 billion in total small business transactions.

• Add a total of 5,000 new small businesses to the Ex-Im Bank portfolio
   1500 as of 9/30/11
  5000
• Double its annual small business volume to $9 billion
   $6 billion as of 9/30/11
  $9 billion
• Approve $30 billion in total small business transactions
   $15.3 billion as of 9/30/11
  $30 billion

Preliminary FY'11 Highlights Include:

• 3,750 transactions
• 1,019 companies new businesses to Ex-Im portfolio
• $6.0 billion in small business export financing, an all-time record
• $719 million in minority- and woman- owned export financing
• $720 million in renewable financing, up from $30 million in 2008
• Over $1.3 billion in Sub Saharan Africa - first time we have passed the billion dollar mark in Africa
• $2.9 billion increase to India, a direct result of the President's efforts to build a strategic alliance

Ex-Im Bank Issues Over 100 Express Insurance Policies

Since its launch at Ex-Im Bank's 2011 Annual Conference, express insurance has proved to be a much-needed short-term export insurance product, which is available only to small businesses. One hundred and twelve exporters purchased an express insurance policy in fiscal year 2011 leading to over $50 million in authorizations. Thirty-two of our insurance broker partners distributed more than 90% of the express insurance policies, with Trade Acceptance Group of Minnesota and Global Business Solutions of North Carolina tied for the most express policies sold.

 SEE THE ENTIRE PUBLICATION OF THIS QUARTERLY REPORT IN A NEW WINDOW AT http://www.exim.gov/newsletter/volume6/newsletter_October18.cfm
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It would also seem to make sense for the US Small Business Administration (SBA) to work in closer coordination and cooperation with EX-IM to better serve the purposes of these little 'employment and innovation engines' than what is being done at present.

Douglas E Castle




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Writing Your MISSION STATEMENT Can Help Your Organization To Focus and Achieve Much More

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If you have an international organization, discussing, formulating and writing your Mission Statement can pull your worldwide offices and management together, strengthen the bond between all offices and team members (regardless of geography, or culture), and reaffirm the organization's true objectives and linear direction. Ideally, it should be a cooperative and collaborative effort undertaken in real-time (via virtual meeting) with as many senior personnel as possible participating. These "framers of the organization's constitution" will each feel a true statke and sense of genuine ownership in the company, its plan and its success.

A Mission Statement is not a decoration -- it is a tool through which the organization reuinites itself and rekindles its torch. If done properly and taken seriously, your Mision Statement will have the additional effect of confirming your joint venture, partnership or membership agreement.

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"It is true. The thought and exercise required to formulate and draft a Mission Statement for your entrepreneurial company, small business, or even an established, middle- to large-sized business which is either a) at a crossroads or b)stalled and stale in its maturity, can create the environment, new perspective and spirit needed to energize, unify and tighten up the bond which holds your team together." 

- Douglas E Castle for TNNWC

A company's or organization's Mission Statement is usually some very generic, trite, politically-correct, Humanitarian-focused brief (a pretty-sounding paragraph) put together to state either the unimportant or the obvious. Occasionally, a smaller organization which doesn't hire decorticated wordsmiths will write its own statement, but those statements (while more interesting than the previous type) tend to be more like summaries of operations, or like "wishlists" of something that the founders or owners would like to be when they "grow up."

I am delighted with TNNWC's Mission Statement; so much so, that I felt obligated to reproduce it here. It is a study in power, passion and punctuation:

Mission Statement

“To provide comprehensive consultation, critical information and to find the best-suited technological tools and systems for client entity formation, strategic business planning, organizational development, problem-solving, personalized support, capital and sustainable, profitable growth. To stand right beside our clients through the use of all new tools and the implementation of all systems and plans.

To focus our diverse expertise, experience, resources and Human Assets on emerging entrepreneurial enterprises, growing businesses and companies in need of restructuring or reorganization –- from entrepreneurial start-ups to small- and mid-sized organizations worldwide.

To be a proactive, participatory partner and champion for the empowerment of the international private business sector through providing and continuously overseeing scalable, financially-responsible solutions to business challenges and to the attainment of client business objectives.

To conduct each client engagement with a view toward encouraging integrity, cultural sensitivity, diversity, regulatory compliance and the notions of responsible corporate citizenship, sustainability and awareness of the ever-growing and ever-changing global economy, with its trends, difficulties and opportunities.

To offer each of our clients an unsurpassed level of service, accessibility and commitment.”

Note: The above Copyright © 2011 by TNNWC Group, LLC. All rights reserved.

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Believe it. Take a look at TNNWC's website Version 3.0 at http://www.ttnwc.com/. In defining our mission, we actually refined and focused our business plan, re-focused on our real goals and most superior skills, and became freshly enthused. It served as a catalyst to bring us together.

Faithfully,

Douglas E Castle

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